The euro Friday neared 1.50 dollars for the first time after reaching a fresh historic high against the US currency, which is suffering from expectations of slower US economic growth and more rate cuts. The European single currency -- created in 1999 -- struck a record peak of 1.4967 during Asian trading hours. A few hours later, European Central Bank president Jean-Claude Trichet said he did not welcome "brutal" exchange rate movements. In European trade Friday, the euro stood at 1.4820 dollars, compared with 1.4850 in London late on Thursday. US markets had shut Thursday owing to the Thanksgiving national holiday. "There was no major catalyst behind today`s (Friday`s) moves but high risk-aversion as a direct result of weak credit markets and lack of confidence in the US` economic prospects continue to undermine the greenback," UBS analysts wrote in a note to clients. Trichet, meanwhile, had also used the word "brutal" in 2004 when there was a question of whether the European Central Bank would intervene to stem an earlier rise by the euro against the dollar. The ECB chief also said that "abrupt and sharp" movements by foreign currencies did not favour global growth, reiterating comments made early this month when the bank left its main interest rate steady at 4.0 percent. Trichet added Friday that he would discuss exchange rates during his forthcoming visit to China. "I have an occasion to discuss with our Chinese counterparts the message we agreed on at the G7 (Group of Seven) on the emerging market currencies," he told reporters on the margins of the European Banking Congress in Frankfurt. Trichet also said he "enormously appreciated" remarks by US Treasury Secretary Henry Paulson that a strong dollar was in the US economic interest. Many market observers believe that US officials are content to let the dollar slide against other major currencies because it favours US exports. Eurozone exports, meanwhile, are suffering from the euro`s sharp rise in value against the dollar, yen and Chinese yuan. In European trade Friday, the euro changed hands at 1.4820 dollars, against 1.4850 late on Thursday, at 160.27 yen (161.10), 0.7195 pounds (0.7208) and 1.6325 Swiss francs (1.6358). The dollar stood at 108.21 yen (108.49) and 1.1020 Swiss francs (1.1016). The pound was at 2.0578 dollars (2.0600). In London, the price of gold climbed to 808.90 dollars per ounce from 803.25 dollars late on Thursday.